AmericasFinance and Insurance
Oak Hill raising $2bn distressed debt fund
New York-based Oak Hill Advisors is looking to put together a $2bn distressed debt fund, with shipping targets in focus, Bloomberg reports.
Distressed investment opportunities will likely surge in the energy, mining, commodities and shipping sectors, Oak Hill co-founder and chief executive Glenn August said during a CNBC interview last month.
On its latest fund, Bloomberg reported Oak Hill will charge a 1.5% management fee based on the price of investments, with an 8% preferred return and 20% carried interest. Oak Hill declined to comment.
Oak Hill has about $27bn in assets under management at present.